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Trade barriers hold back exports to India: Tofail

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12:00 AM, January 30, 2017 / LAST MODIFIED: 12:00 AM, January 30, 2017
Trade barriers hold back exports to India: Tofail

Star Business Report


Bangladesh's exports to India have not been growing at expected levels despite duty benefits in place, due to different tariff and non-tariff barriers, Commerce Minister Tofail Ahmed said yesterday.

With the current imbalance in trade between Bangladesh and India, the minister urged the Indian government to hold dialogues between the two countries to remove the barriers to higher exports from Bangladesh to India.

India has awarded duty-free access for all Bangladeshi goods, except 25 alcoholic and beverage items, to the Indian market, but it has imposed a 12.5 percent countervailing duty on apparel and up to $329 antidumping duty on jute exports, he said.

“I hope those barriers can be removed through discussions. But here, India will have to come forward. We have a lot of expectations from our largest neighbouring country India.”

Ahmed was speaking on 'India's Integration with South and Southeast Asia' on the second day of a partnership summit held at Visakhapatnam, the capital city of Andhra Pradesh.

The Indian Chamber of Commerce and the Ministry of Commerce and Industries of India jointly organised the annual event where businessmen, ministers and business leaders from home and abroad were present.

Bangladesh exported goods worth $689.78 million in fiscal 2015-16 and at the same time, India exported goods worth $5.70 billion to Bangladesh.

Moreover, it is believed that goods worth more than $6 billion come to Bangladesh through informal channels through the border areas.

Ahmed invited Indian entrepreneurs to invest in any of 100 special economic zones that the Bangladesh government is developing.

On the first day of the event, the minister brought forward the issue that Bangladeshi exporters are facing hurdles in the export of jute and jute goods to India for the antidumping duty imposed by India.

The issue of antidumping surfaced after the Directorate General of Anti-Dumping and Allied Duties or DGAD under India's commerce ministry concluded its probe into the matter in October last year.

Bangladesh's jute and jute goods used to enjoy zero-duty benefits on exports to the Indian market under the South Asian Free Trade Area agreement.

Three years ago, the Indian Jute Mills Association had accused Bangladeshi exporters -- for the first time in 40 years -- of selling jute products at prices lower than those in India's domestic market.

In October 2015, the Indian antidumping authority started its investigation into the matter.

Usually, the antidumping duty on a product is the same amount by which it undercuts the domestically manufactured product. The prices of jute yarn in the Indian market tend to be comparatively low.

Bangladesh exports more than 110,000 tonnes of jute yarn to India a year, according to data from Bangladesh Jute Spinners Association. Besides the jute yarn, Bangladesh also exports raw jute and other jute goods.

Jute yarn and twine account for 65 percent of the sector's annual export receipts of over $850 million, according to data from the Export Promotion Bureau and Bangladesh Jute Spinners Association.

The number of trucks carrying jute and jute goods into India through the Benapole land port sharply declined after New Delhi imposed a high antidumping duty on the imports of the goods from Bangladesh.

India on January 5 slapped the antidumping duty on imports of jute and jute goods from Bangladesh and Nepal to “protect the domestic industry”. For Bangladesh, the duty ranges between $19 and $352 per tonne.
 
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It is not easy to do business with selfish,cheater banya.Bangladesh should reciprocate these tariff and non-tariff barriers to this greedy banya in same way.
 
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Bangladesh exported goods worth $689.78 million in fiscal 2015-16 and at the same time, India exported goods worth $5.70 billion to Bangladesh.
So, India alone takes away more than $5 billion by putting official and unofficial barriers to our exports. Add to it a staggering $4 billion the Indian citizens send from a poor BD to the rich India. India alone is enough to destabilize our economy by taking away a total of $9 billion from our State coffer.
 
So, India alone takes away more than $5 billion by putting official and unofficial barriers to our exports. Add to it a staggering $4 billion the Indian citizens send from a poor BD to the rich India. India alone is enough to destabilize our economy by taking away a total of $9 billion from our State coffer.

You gets goods and services in return for both what you import (and pay for) and what you pay the expats you hire (who you hire because BD professionals are in short supply given your terrible education system).

This is not ransacking of your "state coffer" for nothing in return you nitwit.

Maybe BD should make a big enough factory to provide you lot with enough tissues....to make up for the schooling that has obviously failed you big time.
 
You gets goods and services in return for both what you import (and pay for) and what you pay the expats you hire (who you hire because BD professionals are in short supply given your terrible education system).

This is not ransacking of your "state coffer" for nothing in return you nitwit.

Maybe BD should make a big enough factory to provide you lot with enough tissues....to make up for the schooling that has obviously failed you big time.
Hey indian loser why are you so obsessed with Bangladesh? Did some BD Muslim girl reject your stuttering advances?

You are bad smelly rubbish we got rid of in '47. We feel nothing for you
 
It is not easy to do business with selfish,cheater banya.Bangladesh should reciprocate these tariff and non-tariff barriers to this greedy banya in same way.
Shut Up

BD is growing at good pace and will reduce the deficit in coming years. :tup:

Till then morons & madrassa graduate like you can keep crying about it.:coffee:

The brainwashed mullahs don't know that India provides raw material e.g. cotton to run their economy once that stops your economy will collapse. So at least have some respect, and see the trade data before sh!tting on this forum. :angry:
 
Shut Up

BD is growing at good pace and will reduce the deficit in coming years. :tup:

Till then morons & madrassa graduate like you can keep crying about it.:coffee:

The brainwashed mullahs don't know that India provides raw material e.g. cotton to run their economy once that stops your economy will collapse. So at least have some respect, and see the trade data before sh!tting on this forum. :angry:

In addition to the abuse - you quote incorrectly. Bangladesh imports cotton from loads of other places like Pakistan, China, Uzbekistan, Azerbaijan and Egypt.

You can plan on not selling us your cotton - but your businessmen are just too eager.

We are the second largest garments exporter. Who else are you going to sell it to?

Yup go ahead - do a 'Modi move' on us please.......ban the export of cotton to Bangladesh.
 
In addition to the abuse - you quote incorrectly. Bangladesh imports cotton from loads of other places like Pakistan, China, Uzbekistan, Azerbaijan and Egypt.

You can plan on not selling us your cotton - but your businessmen are just too eager.

We are the second largest garments exporter. Who else are you going to sell it to?

Yup go ahead - do a 'Modi move' on us please.......ban the export of cotton to Bangladesh.
Our RMG owners are already planning on cutting cotton imports from India anyway. We might see the results by next year.
 
Shut Up

BD is growing at good pace and will reduce the deficit in coming years. :tup:

Till then morons & madrassa graduate like you can keep crying about it.:coffee:

The brainwashed mullahs don't know that India provides raw material e.g. cotton to run their economy once that stops your economy will collapse. So at least have some respect, and see the trade data before sh!tting on this forum. :angry:
Abba Sahab, You are making a great mistake. It is not our Madrassa people who are responsible for the trade deficit of today. It is because your Tikkiwala traders do not want to buy anything good that can be exported from BD to India. Tikkiwala Indians are famous for their miser character, and the GoI encourages them.

Even for Nepal, we give trade concession by importing more and exporting less. India is at par with Nepal. BD exports less and imports more. So, allow us to export whatever we can and let the Indian customers choose between Indian shoddy goods and international level BD goods.
 
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No point crying. We should look to export to other places and maybe add tariffs to imported Indian goods. But before that we need to grow a pair of balls.
 
I don't think these barriers would be lifted anytime soon and they are there for some obvious reasons...

The best way forward is to seek new markets, especially in East Asia and the emerging Southeast Asian countries like Indonesia, Malaysia, Vietnam, Thailand, Philippines etc.

With the fall of TPP, OBOR now shows a huge potential...
 
Only 11Bn dollors!!

We don't like China still we import their 'Made in China' trash.Our trade deficit is worth 53bn Dollors with China so some one must pay the bill in return to India.Our small neighbors are bound to pay un/willingly :cheesy:

thehindu /news/national/India 99s-trade-deficit-with-China-rises-to-53-billion-in-FY16/article16714941
 

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